July U.S. manufacturing technology consumption totaled nearly $150 million, according to the American Machine Tool Distributors' Assn. (www.amtda.org) and AMT—The Assn. for Manufacturing Technology (www.amtonline.org). This total, as reported by companies participating in the U.S. Manufacturing Technology Consumption (USMTC) program, was up more than 9% from June but down 55% from the total of $334 million reported for July 2008. With a year-to-date total of $910 million, 2009 is down 68% compared with 2008.
"We are pleased to see a third consecutive monthly increase in machine tool sales. We appear to be past the bottom," says Peter Borden, AMTDA president. "However, the number of units is still far less than what it was a year ago. We are hoping the recent up-tick will pave the way to a more solid recovery in the fourth quarter and into 2010."
The USMTC report, jointly compiled by the two trade associations representing the production and distribution of manufacturing technology, provides regional and national U.S. consumption data of domestic and imported machine tools and related equipment. Analysis of manufacturing technology consumption provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
U.S. manufacturing technology consumption also is reported on a regional basis.
Northeast Region manufacturing technology consumption in July stood at almost $20 million, down 27% when compared with June's $27 million and down 61% when compared with July 2008. With a year-to-date total of $174 million, 2009 is down 57% when compared with 2008 at the same time.
July manufacturing technology consumption in the Southern Region totaled $22 million, 14% less than the $25 million tally for June and off 50% when compared with July a year ago. The $129 million year-to-date total is down 72% when compared with the same period in 2008.
Midwest Region manufacturing technology consumption in July rose to $39 million, 9% higher than June's $36 million, but 58% lower than the total for July 2008. At $255 million, 2009 year-to-date is off 73% when compared with last year at the same time.
At $51 million, July manufacturing technology consumption in the Central Region was 76% more than June's $29 million but 54% less than the total for July a year ago. With a year-to-date total of $227 million, 2009 is off 68% when compared with 2008 at the same time.
Totaling $18 million, July manufacturing technology consumption in the Western Region was down 11% from the $20 million total for June and down 52% when compared with July 2008. The $125 million year-to-date total is 64% less than the comparable figure for 2008.